This pair is currently making a 5th wave, price projected to retrace on fib 127.2%, which then start the correction waves A-B-C.
Base on 3 Elliot's wave rules, 1) wave 2 never go beyond or above wave 1. 2) wave 3 is the longest wave. 3) wave 4 does not enter into the same price territory as wave 1. The elliot wave is drawn as shown. Price has formed wave 4 through a double zigzag corrective patterns, 2 possible scenarios for next coming weeks would be: i) price continue to be in the...